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Tallahassee Mall Taken Off The Auction Block

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By Andy Alcock
August 21, 2013

Tallahassee, FL - The Tallahassee Mall has been taken off the auction block.

As we first reported last week, the mall had been put on the website auction.com.

The bidding was scheduled to begin Monday and end Wednesday.

However, a spokesman for the website tells us the mall auction was canceled.

Miami Beach based LNR Property is handling the mall sale.

A spokeswoman for LNR was unable to provide any update on the mall's future.

By Andy Alcock
August 13, 2013

Tallahassee, FL - It's close to 1-million square feet, sits on more than 95 acres and is now for sale.

Tallahassee Mall is now on the auction block.

It's been a landmark on North Monroe Street for more than 40 years.

Now the clock is ticking for the sale of the Tallahassee Mall.

The website auction.com says the bidding will start on the mall on Monday.

"I think the big mall standard has got to change at some point," said Shane Lambert of Lambert Construction.

Lambert and Tallahassee Assistant City Manager Jay Townsend talked to a packed room, in part about retail development, at the Chamber of Commerce annual meeting at Amelia Island Saturday.

Both Lambert and Townsend said changes are needed at the Tallahassee Mall.

"I know they've got some big clients in there," said Lambert." "They still have some leases," he said. "Dillard's left it changed the output." Lambert said.

We went to take a look for ourselves.

On a mid Tuesday morning, we found some shops open, other ones in business and not open and some empty spaces.

We found some people waiting for the theater complex to open, but also saw a lot of lonely store clerks and little activity at the food court.

"Somebody's going to have to purchase that and do something dynamic with it," said Lambert.

The sale is being overseen by LNR Property of Miami Beach.

A corporate spokesman says that company handles sales of distressed properties.

Leon County records show Stiles Farm LLC owns the mall.
Those records show the property is divided into three parcels.
The main parcel has an assessed value of a little over $3.9 million.
Altogether, the three parcels are appraised at over $6.5 million.

The firm's accountant Larry Wolfe says owner James Stiles is out of town for the next two weeks and offered no comment on the sale.

Lambert says he hopes a new mall owner will make big changes.

"Cause if we don't have somebody coming in and doing that, it's going to sit there for a long time," he said.

According to the current property manager, the mall is about 70 percent occupied, mostly with local businesses.

The mall auction will be finished a week from Wednesday.

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